Fort Pitt Capital Group Lowers stake in VF Corp (VFC)

VF Corp (VFC) : Fort Pitt Capital Group reduced its stake in VF Corp by 0.22% during the most recent quarter end. The investment management company now holds a total of 345,123 shares of VF Corp which is valued at $20,935,161 after selling 762 shares in VF Corp , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.VF Corp makes up approximately 2.49% of Fort Pitt Capital Group’s portfolio.

Other Hedge Funds, Including , Integrated Wealth Management reduced its stake in VFC by selling 1,074 shares or 18.16% in the most recent quarter. The Hedge Fund company now holds 4,840 shares of VFC which is valued at $293,594. VF Corp makes up approx 0.11% of Integrated Wealth Management’s portfolio.Bbva Compass Bancshares Inc boosted its stake in VFC in the latest quarter, The investment management firm added 15,084 additional shares and now holds a total of 47,823 shares of VF Corp which is valued at $2,985,590. VF Corp makes up approx 0.22% of Bbva Compass Bancshares Inc’s portfolio.Alpha Windward boosted its stake in VFC in the latest quarter, The investment management firm added 21 additional shares and now holds a total of 797 shares of VF Corp which is valued at $51,048. VF Corp makes up approx 0.04% of Alpha Windward’s portfolio.

VF Corp opened for trading at $60.74 and hit $61.33 on the upside on Thursday, eventually ending the session at $60.88, with a gain of 0.36% or 0.22 points. The heightened volatility saw the trading volume jump to 23,44,325 shares. Company has a market cap of $25,388 M.

On the company’s financial health, VF Corp reported $0.36 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Jul 22, 2016. Analyst had a consensus of $0.34. The company had revenue of $2445.30 million for the quarter, compared to analysts expectations of $2526.79 million. The company’s revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.38 EPS.

Investors should note that on Jul 22, 2016, VF Corp announced a cash dividend of $0.3700. The company’s management has announced Sep 7, 2016 as the ex-dividend date and fixed the record date on Sep 9, 2016. The payable date has been fixed on Sep 19, 2016.

Many Wall Street Analysts have commented on VF Corp. VF Corp was Downgraded by Brean Capital to ” Hold” on Jul 15, 2016.

V.F. Corporation (VF) is engaged in the design manufacturing marketing and distribution of branded lifestyle apparel footwear and accessories. The Company operates through five coalitions: Outdoor & Action Sports Jeanswear Imagewear Sportswear and Contemporary Brands. The Company owns a portfolio of brands in the outerwear footwear denim backpack luggage accessory sportswear occupational and performance apparel categories. The Company’s brands primarily include The North Face Vans Timberland Wrangler Lee and Nautica. The Company’s products are marketed to consumers shopping in specialty stores upscale and traditional department stores national chains mass merchants and its own direct-to-consumer operations. Its direct-to-consumer business includes VF-operated stores concession retail stores and e-commerce sites. The Company’s brands sell products in international markets through licensees distributors and independently-operated partnership stores.

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